Greenply Inds
This seems to have become a trend – the stock hits a new 52-week high every time it announces its quarterly numbers. It happened post its Q3 numbers and now even after its Q4FY13 numbers. The company posted a net profit at Rs.35 crore, up 119% (YoY) and this was on a 18% increase in net sales at Rs.541 crore. Its other operating income rose 274% at Rs.1.31 crore and its interest cost which is pretty high at Rs.14 crore was down 30% (YoY). What really helped was the Bamanbore unit at Gujarat which commenced commercial production and started adding on to the earnings from Q3.
The company is planning to set up a new MDF unit at Andhra Pradesh and has completed acquisition of land for the same. And with respect to its new value added products at its existing MDF plant at Uttarakhand, by expanding the existing capacity and introduction of laminated flooring and UV coated panels, construction work has commenced and major machineries have been started arriving. The company has ended the fiscal with a consolidated net profit at Rs.120 crore, up 110%. Its debt (long term borrowings + short term borrowings) as at 31st March 2013 stands at Rs.575 crore. Reserves stands at Rs.462 crore. Promoters hold 55% stake and it is all ‘free’ – no stake is pledged.